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, and we're back with more on the high stakes negotiations over the fiscal cliff. speaker john boehner says he's eager to sit down with the president now that republicans have put forward what he called a middle ground proposal. but that's not quite how white house spokesman jay carney sees the offer. >> we don't know who pays. we don't know what we're talking about in terms of actual legislation to increase revenues. it's magic beans and fairy dust. >> let's get right to our panel now. in philadelphia is professor james peterson. in washington msnbc contributor dr. jared bernstein, senior fellow at the center on budget and policy priorities and a former economist for vice president joe biden. jared, if i might start with you, speaker boehner says he put forward a middle ground proposal. no tax increases for the healthiest of americahealthy est of americans, yet he wants to rage the eligibility of medicare and he wants to slash billions from every program. if that's a middle ground proposal, i would rather have the paul ryan budget but maybe they're the same thing. >> i was thinking what do
. nice to have you with us this evening. >>> just 29 days and counting from the fiscal cliff, the speaker of the house john boehner offers up his own plan today. and the white house has already offered up their response. >>> a little later, a photo in the trayvon martin case has been released in color. we'll show it to you. a new heir to the british thrown is on its way. it's a baby bonanza. one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. let's say you want to get ahead how do you get from here... to here? at university of phoenix we're moving career planning forward so you can start figuring that out sooner. ln fact, by thinking about where want your education to lead, while you're still in school, you might find
on the solutions for the fiscal cliff. they will meet with white house speaker john boehner. in the meantime the white house is rejecting the latest proposal. house republicans send it to the white house yesterday their republicans plan does not increase tax rates which the white house insists must be included in any deal. >>> they are trying to make california public schools green. they will update the efficiency of public schools in california. it's being introduced by an assembly woman. the recent funding would come from proposition 39 and it comes from a fund. >>> police say 44-year-old john roady robbed the class sunday night. he took computers and other electronics. police recovered some of those during his arrest. he was on probation for burglary and now he faces new charges. >>> we have a car versus a dear at the paradise east bound. it is backed up and running, here is a look at the east shore freeway and mcarthur maze no dislace, traffic is flowing -- no delays, traffic is flowing well in both directions. >>> light rain is trying to develop up in lake men seen know, rain is slowly
of the opposition to any at the potential fiscal cliff deals speaker boehner can work out with the president. he can't work anything out without this guy's approval. yesterday grover norquist warned of a wave of tea party anger, a tea party two that would dwarf anything we've seen before. let's take a look at the threat from grover. >> understand how ugly the next four years are going to get. everything in obama care that obama didn't want you to focus on or think about, the 90% of his trillion dollar tax increase, was pushed over until after he got himself safely re-elected. all those regulations you're now hearing about, okay, that are being -- those all hit after the election. we got four bad years of regulation taxes, he wants to add higher taxes to that. tea party two is going to dwarf tea party one if obama pushes us off the cliff. >> there's a dr. strangelove. how many republicans will be willing to stand up to that threat? david corn is here to talk about it, the washington bureau chief for mother jones and the author of "47 percent." he's a member of the gridiron society. and john feehery i
of speaker boehner's proposal to avert the fiscal cliff? >> unfortunately, the speaker's proposal right now is still out of balance. he talks about $800 billion worth of revenues but says he's going to do that by lowering rates. when you look at the math, it doesn't work. >> reporter: he won't agree to eliminate a tax deduction for contributions to charity. >> every hospital and university and nonfor profit agency across the country would find themselves on the verge of collapse. so that's not a realistic option. >> reporter: but the president didn't say all this to speaker boehner. he said it in an interview on bloomberg tv. the last time the two men spoke was almost a week ago. president obama is focused on the stalemate with congress over averting the fiscal cliff, but he's just not talking to house republicans about it. at the white house, he discussed the issue with a bipartisan group of governors. >> i know that the president wants a deal and he didn't try to handicap it. >> reporter: earlier this week, he told so-called middle class americans on twitter, keep pressure on congress. he
president barack obama to work on the fiscal cliff. they will meet with house speaker john boehner, governor jerry brown is actually not in the group. >>> white house is rejecting the republican fiscal proposal. and it is a counteroffer to the one president barack obama offered last week. coming up, what the white house says is missing in the republican proposal. >>> time now time to bring tara back. if anybody is headed for the bay bridge, what do you want them to know. >> if we take a live look, this happens in just a matter of minutes and i bet you it is going on right now. so give yourself extra time if you are headed into the city right now. we can show you 580 westbound and then also up in the pittsburgh antioch area, slow going there on highway 4 as you make your way towards concord. last but not least, 280 san jose and traffic is moving along pretty well. 6:07 here is steve. >>> cloudy skies, now last hour, there has been some light rain in mendocino and down to salina, it is cloudy and a few areas of fog. this system is considerably weaker than the one we have and it looks like we w
at bloomberg and talked about the republican offer from speaker boehner on the fiscal cliff resolution. he said it was out of balance because the speaker has not agreed to rate increases but the president identified a two-step process by which he is hoping still to reach an agreement before the end of the year, if he can get republicans to give on the top rate. he said that first of all, we can't do a fundamental tax reform in the next two weeks. we simply have to have a down payment before the end of the year and then commit to tax and entitlement reform during the year of 2013. he also specified, and i think this is significant, that he thought 300 to $400 billion over ten years is about what you could raise by closing loopholes and trimming deductions. this is a -- this is a way to come to grips with how to get to the revenue target the president wants. let's first of all listen to -- we have got a piece of sound from that interview. let's listen to the president. >> when you look at how much revenue you can actually raise by closing loopholes and deductions, it's probably in the range of $3
with congress to work on a solution to the fiscal cliff. in the afternoon they will meet with house speaker john boehner and governor jerry brown is not in that group. >>> tara is back, you know all about our commute, what is happening in pacifica. >>> well, to the northport tall bridge, they are able to stabilize that weak spot. right now we will take a live look headlights are flowing nicely as you make your way towards the mcarthur maze. up next, we have 880 up near the oakland coliseum, same story staff is flowing very nicely. it is dark up there but take my word for it, traffic is flowing nicely, 5:07 let's check with steve. >>> ukiah announced they can't hold a candle to what was there. heavier amounts will not be to the north. any rain on already saturated soil will need to be watched. one to two will cover it, i think this system will weaken considerably. it doesn't mean we will not get more rain. the pattern will change, there could be some morning drizzle in some of the higher elevations and rain in the north bay, you can see it there having returns near clover dale, winds near clover
>> the house speaker said on fox news sunday right now i would say we are nowhere in terms of the fiscal cliff negotiations. does the president agree? >> no, he does not. you saw secretary geithner over the weekend on aaother sunday shows very clearly express the president's position, talk about the proposals the president has put forward and express our belief that there has been progress and that we can achieve a bipartisan agreement. lou: the president has not spoken to the house speaker about a resolution to the fiscal cleft cents a late night phone call last wednesday. instead dispatching treasury secretary timothy geithner did last thursday to present a plan that the speaker deemed not serious. here is his response to the negotiations that have largely taken place through the media. >> flabbergasted. he can't be serious. i've never seen anything like it seven weeks between election day and the end of the year. and three of those weeks have been wasted with this nonsense. lou: the speaker, an absence of actual conversation or anything resembling negotiations sent a letter to the presi
to the fiscal cliff battle being waged in washington. now, late this afternoon house speaker john boehner sent a letter to the president detailing a bold counter offer to the administration's plan. the g.o.p. proposal does not include a tax increase on the so-caldwell thee but does contain $800 billion in revenue through tax reform, another $600 billion in health savings and much more. all told, the net savings amount to around 2.2 trillion dollars. the white house responded to this letter by saying that the president is, quote, willing to compromise but not on the subject of making job creators pay more in taxes. however, what our tax and spend commander-in-chief fails to understand is that putting money into the hands of you, the american people, is the single best way to spur economic growth, and it's not just people like ronald reagan who understand this principle. bill clinton famously said the era of big government is over and the end of wel welfare as we know it. why? because government is not the answer. government is the problem. there was that other iconic democrat, the one that occu
television moments ago, getting parts of this interview says speaker boehner's proposal on the fiscal cliff is still out of balance. that is a quote the president has given about the letter and the proposal that you sent to capitol hill. realistically, when do you need to get a deal done to avoid the country from going off the fiscal cliff? know there is limited days. >> yes. jenna: when does an actual deal have to be done so it gets through those logistical processes we know need to be done in both the house and the senate? >> the sooner we can get a deal the better. speaker boehner, as i said, he, the day after the election, said, okay, we'll put tax revenue on the table. let's start the negotiations. you know this can be done. president reagan and tip o'neill back in the early '80s, they negotiated a deal to save social security and address tax reform and the other entitlement programs, the spending --. jenna: if i could. reagan famously said trust but verify. >> yes. jenna: why should we trust you? why should we trust lawmakers in office now they can do this? >> because i would say we'r
the fiscal cliff. eye roncally enough, something the house of representatives passed last may. in april set out a tax plan. in may passed a sequestration plan, went to the senate and said we're going to see you in the lame duck time period. we're in the lame duck and this had has to be solved. we have to solve the problem. the first thing is to define what the problem even is. it seems one group is talking about the real problems, the fiscal cliff, and the other group is talking about the real problem, the debt and deficit. what is the real issue? we have $16.3 trillion in debt as a nation. $1 trillion of overspending or each year for the last four years. let me set the example of what this really means. in 2007, our tax revenue, how much we were bringing in the treasury, is almost exactly what it is in 2012. from 2007 to 2012, the revenue is almost identical. the difference is our spending has gone up $1 trillion a year. from 2007 to 2012. so over the course of that time it's slowly built up. but each year we've been over $1 trillion in spending. while our revenue has stayed consistent bas
and house republicans are rolling out eir fiscal cliff counteroffer to the white house. includes $800 billio in new tax revenue. that is roughly half what the president was aiming for. 300 billion in dcretionary spending cuts. 900 billion in mandatory spending cuts. now the whi house responding just moments ago saying quote, the republican letter released today does not meet the test of balance. they don't like it. i'm joined by da mitch chill from the cato institute for more on this. dan what do you think. these are a lot of things to occur just in the past few hours. do you feel like ere is progress being made? >> there is progress but progress in the wrong direction. the number on thing to understand alrdy even if all the tax cuts were made permanent, tax revenues projected to grow by 6.2% a year. so what they're really debating about how much should it grow even faster than that in order to enable bigger government. 100% of our fiscal problem is on the spending side. obama is being very inflexible on that. republicans i'm afraid will get taken to the cleaners just what happened in 1990 w
to avoid the fiscal cliff. but republican house speaker john boehner dismisses it as, and i'm quoting, la la land. the republicans offered their proposal, that happened about 24 hours ago. the white house quickly labels it as nothing new. business as usual, right? so how do we move beyond this stalemate in washington? we heard from the president, just a short time ago. our chief white house correspondent jessica yellin joins me now, jessica, the president spoke out, sat down in an interview with bloomberg tv, and in listening to the interview, did you hear any clues toward a possible compromise here? >> reporter: not new clues, brooke. the president laid down the marker that we heard from the white house consistently, which is they aren't moving until they hear the republicans agree to raise tax rates on the wealthiest. listen to what the president had to say. >> i think that, you know, we have the potential of getting a deal done, but it is going to require what i talked about during the campaign, which is a balanced responsible approach to deficit reduction that can help give businesses
: the republicans submit their fiscal cliff solution. now, that plan put out by speaker boehner, includes 800 billion dollars in extra tax revenues and that would come from limiting deductions and not from higher tax rates. and there would also be 1.2 trillion dollars worth of spending cuts and the white house immediately dismissed that plan, saying, the lower tax rates for the rich and quote, fix the middle class with a bill. again, we come back to this. the main sticking point is the tax rate issue. the president insists more revenue comes from higher rates, not deduction limits. -pit's a standoff and it contins less than four weeks to go until the deadline. be careful what you say in a local police want a law, new law requiring that text messages be saved for two years. how do you feel about that? ever texted something you wish would go away right now? there is of course the privacy issue as well. well, here comes the judge. he will be new at 10 on this one. got it. shares of darden restaurants, they're down today and they're the company that runs olive garden, red lobster, and they're dow
of whatever might happen in these fiscal cliff talks. megyn: so that is happening. if you make $200,000 as an individual or 250 as a family, it's happening as of january 1. >> well, looks that way. my parsing of speaker boehner's offer in the fiscal cliff talks is that this is going to happen no matter what. they talked about holding the line -- megyn: no, wait, wait, wait, let me interrupt because i just don't want to confuse the two, because all the taxes are confusing. i'm saying this surtax, this .9 income tax surtax, and then this 3.8% surtax on nearly all capital gains, that is happening irrespective of what happens with the fiscal cliff negotiations? >> almost certainly. unless somehow it became part of the negotiations to turn it off, but i'm not hearing that. megyn: okay. so then on top of that you got to fiscal cliff discussions in washington where the president wants to raise the income tax on top earners by another 3% or so in addition to this, these taxes you and i were just discussing. >> yeah. and that's a crucial point, because obama has repeatedly said he wants to g
of thegrio.com joy reid and frank bruni of the "new york times." >>> the fiscal cliff negotiations continue to play out like greek theater. entering from stage right, speaker john boehner issued a counter offer yesterday. from stage left a chorus of democrats who are shocked and outraged. the white house told boehner to, quote, get serious. nancy pelosi called it another assault on the middle class, seniors and our future. and senate na jorty leader harry reid took to the floor this morning. >> republicans again sided with the wealthy of this country. it won't pass. >> the gop proposal calls for $600 billion in entitlement reform, including raising the medicare age. it brings $200 billion from social security, adjusting the inflation rate and raises $800 billion in new tax revenue by reforming the tax cut and closing loopholes. the plan rejects specifically raising tax rates, but it is significant that john boehner has gotten his entire leadership team, including congressman eric cantor, kevin mccarthy and even former vice presidential nominee and budget hawk paul ryan to publicly sign thei
, what's known as the fiscal cliff. and they're talking about the economy as well with the senate majority leader, harry reid, and house speaker, john boehner. this after a 90-minute meeting with president obama at the white house this morning where they called for a quick resolution. the governors spoke to reporters at the white house for 15 minutes after that meeting and we'll show you as much as we can until the house gavels in in just a few minutes. >> well, goorn, everybody. i'm jack, the chair of the national governors association, the governor of delaware, joined by governor fallen of oklahoma, she's the vice chair -- governor fallin of oklahoma, she's the vice chair. the governor of arkansas. we are three democrats and three republicans. we just had what i would say was a very good meeting with the president. we came in part to make sure that the voices and the issues that we face as governors in states are heard and considered as part of the discussions going on here in washington. the president was very open to that. said we would continue to have a seat at the table. we
of candidates. we are talking about the proposal by house republicans to avoid the so-called fiscal cliff put out yesterday from the speaker's office with signatures from the rest of the leadership team. christine, a democratic caller, what do you think about it? you are on the air. caller: i have to agree with a couple of other people that called in. we have had 12 years of tax increases for the very wealthy in this country. theit has done nothing to stimulate jobs. it has done nothing to take our economy into a better shape. it was the bush tax cuts and the wars that drove us into this huge deficit that we have now. not the republicans' entitlements for this country and then we have neglected this country and the people of this country. we could have created jobs 10 times over. you have vets that are going to be coming back here, and where are the jobs for them? we have focused so much on these wars we got quagmired into, obama has been trying to get us out of them for the last four years. all the republicans have done for the last four years is say no, no, no to any kind of -- and obama ha
accusations over the lack of progress on avoiding the fiscal cliff, both sides now have put their opening offers on the table. last week, it was treasury secretary timothy geithner meeting with top republicans. this afternoon, house speaker john boehner sketched out the g.o.p. proposal in a letter to the white house, and the proposal borrows suggestions from the president's own debt reduction commission, whose plan was ignored last year. the republican letter offered $900 billion in spending cuts from program reforms to medicare and social security. the g.o.p. plan would raise $800 billion in revenues by closing loop-holes and reforming the tax code, but stops short of specifics. noticeably missing: the higher taxes on high-wage earners which president obama has insisted on. the white house responded, saying "the g.o.p. proposal does not meet the test of balance. in fact, it actually promises to lower rates for the wealthy and sticks the middle class with the bill." it's not just the federal government under pressure. credit ratings agency fitch calls the fiscal cliff the biggest concern
on the solution to the fiscal cliff. in the afternoon, the same group will meet with house speaker john boehner, california governor jerry brown, by the way, is not in this group. >>> 8:14. the owner of drake's bay oyster company is working with a legal team to fight the decision by the federal government to shut down his operation. kevin lenny announced yesterday he does not plan to give up the federal government's order to give up the company. oakland's largest pot club get as key victory in court. a county judge ruled that harborside medical center cannot be convicted -- evicted. the owner cannot kick the club out because it's not breaking state law. the landlord will try her luck. she wants harborside out because a federal prosecutor is threatening to seize the property. >>> 8:15. santa clara county auditors are demanning that the county board president reimburse the county more than $12,000. the paper reports that an audit found he used a tax-payer funded credit card to pay for personal expenses like golf fees, casino hotel stays, and rental car upgrades. he says he will reimburse the coun
" tonight, speaker of the house, john baiter offers up his own plan to avoid the fiscal cliff, the president responds and a new heir to the british throne is on the way. but an unusual condition is keeping the duchess of cambridge in the hospital. we'll have an update. y in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. offering some of our best values of the year. one is for a clean, wedomestic eney future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her!
of speaker boehner and the republicans in his first tv interview since the election and since the fiscal cliff stalemate started. no deal until republicans drop the opposition to raising tax rates on the wealthy. that's the president's message. we'll play the interview for you, parts of it, and also hear from democratic congressman adam schiff. from the president shooting down speaker boehner proposal to now conservative groups going aafter him, who are boehner's allies at this point. where is governor jan brewer. the mystery about the out of state business trip and why his own spokesperson says he can't disclose where she is. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. now we need a little bit more... [ male announcer ] at humana, we
to the white house in which he said he needed to find different middle ground on this fiscal cliff issue. he particularly cited your report which he described as providing imperfect but fair middle ground as a way of breaking this political stalemate. he's saying only the president would adopt your approach that maybe this stalemate could be broken. what do you think about that? >> (laughing) well, i haven't seen th letter, as i tnk you know. it's nice that the speaker would give me some credit for trying to do that. but what he is referring to is when i testified before the super committee, i tried to show these guys that if they truly wanted to ghettoing that they could ghettoing at that time. and basically as an example on discretionary spending they were talking about cuts between $200-$400 billion. look, ghettoing on $300 billion. on health care between $500 billion and $700 billion. there was $600 billion. another mandatoryhat got that number that came out is $300 billion. both were talking about changing to the superlative c.p.i. so you could get $200 billion there and you'd have $400
governors and discuss fiscal cliff issues. those governors may ask for resolution fearing political blowback at home. >> major, last night was the can you think -- congressional christmas party at the white house. >> reporter: sources tell me the speaker was here last night for the holiday event but did not stand in line for a picture with the president. no handshake, no talks. speaker boehner's office says he has plenty of pictures with the president. >> major garretht, thank you. >>> now to the middle east. iran claims it shot down an american drone. the head of its navy says the unmanned surveillance plane is in iran's possession. the u.s. navy spokesman says no american drones are missing in the middle east. >> however if it's true this would be the third incident in one year involving iran and american drones. retired general richard myers, former chairman of the joint chiefs of staff, is a cbs analyst analyst. good morning. >> good morning, charlie and norah. >> does this mean iran is getting more aggressive? and should the united states be concerned
offer a counter proposal on the fiscal cliff. their plan, $2.2 trillion deficit savings over the next decade, but it does not include higher tax rates for the wealthy. the house speaker john boehner calls it a credible plan that deserves serious consideration by the white house. guess what? the white house released a statement tonight saying the plan is nothing new, that it lowers rates for the wealthy and sticks the middle class with the bill. so to borrow a phrase, we're nowhere. period. david walker is president and ceo of comeback america initiative. he's made it his mission to promote fiscal responsibility. he joins us along with cnn political analyst, david gergen. the house republicans put forward their counter proposal. speaker boehner says it's credible and the white house should consider it. is it credible or is it more of what you have called the irresponsible unethical immoral behavior of all the politicians here in washington? >> i think both sides are now putting things on the table but i think they're confused. what we have to do in the short term is avoid the fiscal cl
house, we will go over the fiscal cliff. this is a compromise on taxes. >> now as soon as speaker boehner's counter offer came out, the white house communications director responded, saying this is nothing new, saying it lacks specifics. i will tell you sort of behind the scenes there was a democratic leadership aid that told cnn that actually, soledad -- this may surprise you -- that the offer passed the laugh test. it does have some of the things that were in the grand bargain, that failed grand bargain worked out between -- where president obama and speaker boehner tried to work out last year. and also -- while certainly both sides are saying that specifics are lacking, there is certainly, i think, a feeling from some democrats that maybe it could have been worse. maybe they were expecting something that in their estimation might have been even more towards what republicans would want. >> brianna keilar, thank you. i guess we're supposed to be encouraged that everybody wasn't just giggling over the proposals. rks said they laughed at the white house proposal. >>> let's get to s
republicans sent president obama a new offer to avoid the fiscal cliff, a counter offer to president obama's plan, proposing raising $800 billion from tax reform, not higher tax rates. but the white house immediately slammed the offer and said it won't even consider it. tonight, speaker boehner's response to the white house response, saying it's up to the president to come up with a plan. allen west is here. good evening. >> good evening. >> your thoughts, apparently the white house is unimpressed with the proposal by the speakert and white house republicans? >> i think the white house needs to do case studies, calvin coolidge and president john f. kennedy, when you look at what they did with lowering tax rates and increase revenues. calvin coolidge went from 73% to 24%. john f. kennedy from 91% to 71%. they increased revenues. we are not talking about what the president is looking at with his wealth redistribution, we are talking about wealth expansion, economic growth and sound policies to do that. if you want to continue to believe that $250,000 makes someone rich, you are going to crus
the fiscal cliff, shep. >> shepard: what's the thinking on whether they can actually come together at some point here, ed? >> right now it's pretty dim. if you look at what speaker john boehner said in that exclusive interview with our own chris wallace on "fox news sunday." he said right now there are nowhere in these talks. other serious republicans like lindsey graham says he thinks we are edging closer to closer to this just being in calamity. >> i think we are going over the cliff. it's pretty clear to me that they made a political calculation. >> he believes we are likely to go of 00 cliff now. the bottom line is tonight the president is hosting congressional leaders for this congressional ball. basically a black tie holiday party. maybe they will start talking about compromise but so far none in site. ed henry live on the north lawn. prince william's wife kate in the hospital because of problems with her just announced pregnancy. just ahead what we have learned about this condition and this new kid coming along. plus a dolphin attacks a little girl at sea world with a bite strong en
: looking at specific aspects of what is at stake with these social -- the so-called fiscal cliff. go to c-span.org/fiscalcleiff fr a clearing house of stories about it. speaker john vader was talking about negotiations yesterday. let's talk about where he sees things. [video clip] >> the president's idea of a negotiation is to roll over and your guy asked. we need to find common ground and we need to find it quickly. >> again, because you kind of did not answer it the first time, what are the chances that we will go over the cliff? >> there is clearly a chance but let me tell you, i might be an easy guy to get along with. in ausly, i've worked bipartisan way on a number of agreements. but i am determined to solve our debt problem. and we have a serious spending problem and is going to be dealt with. >> and if the white house is unwilling to deal with it, are you prepared to -- >> we are going to deal with america's debt problem. >> and if they do it in a way that is unacceptable to you? >> we are going to deal with it. we are not going to kick the can down the road anymore. >> so if id --
government over this fiscal cliff situation. our next guest is here to say, our point is, we need the government out of the markets and we need to get them out now. he is in d.c. today. what does that mean, you need to get the government out of the markets? >> you know the solution. they have to compromise. cut spending, cut entitlements and increase tax. that is the bottom line. there is just too much affecting this market. the word on the street is, by boehner, so read. we have to get the government out of the market. connell: you can see where the compromise could happen, if they wanted to make it happen. if they do, are you relatively optimistic about markets? >> yes,,we think so. the key word, it is actually risk to both sides of the market. that does not make sense. there is lots of risk to the upside. if somehow they do get it resolved, it will be a surprise to the market and the market should rally to the upside. everyone is looking forward to it. they will get it done. the question is when the stock. connell: they wait until after the new year. are we still the best of th
from that fiscal cliff. did anything happen today to bring us closer to a deal? let's get the facts. eamon javers on capitol hill now with the story. >> reporter: hi, the story up here on capitol hill, speaker of the house john boehner facing a bit of a brush fire on the right here. senator jim de mint calling the proposal an $800 billion tax hike earlier today. saying that's going to allow washington to continue to spend money here on capitol hill. that's been met with a little bit of interest here in the halls of congress because that's a sign that republican conservatives are not entirely thrilled with the speaker's proposal to the president of the united states. it brings up the question of how much the speaker can actually negotiate with the president and how much his hands are going to be tied by dealing with his own conservative caucus here on the hill. talking with those republican members today, it seems like the speaker still has the upper hand. that's going to narrow some of the running room that the speaker has going forward. very, very dicey situation for speaker boehne
happens, this fiscal cliff as we've been calling it, it will impact their state's economies. according to the ppew report, these states rely on federal money. things like education would be impacted. they're here to put pressure not only on the president but lawmakers up on the hill to get this deal done. >> takes place in about an hour. dan loathian, reporting from th white house. >>> nearly 15 million households rely on food stamps. republicans say it's far too many. it's government assistance out of control. certainly a major theme during the republican primary. >> president obama has been historically the most effective food stamp president in american histor history. >> in light of the continuing controversy over food stamps, new jersey democratic mayor cory book booker will live on food stamps saying, quote, nutrition is not a responsibility of the government. >> as you mentioned this all sort of began as a back and forth on twitter. we'll get to that in detail in a moment. first i want you to look at something that mayor booker posted on his twitter account. it is a grocery stor
-called fiscal cliff. president obama meets with bipartisan groups of governors about the problem today. the meeting a day after house speaker jonathan boehner laid a republican plan to solve the crisis on the table and calls for $800 billion in higher taxes revenue and does not increase taxes on wealthy americans. the white house is rejecting the offer, saying any deal must include an end to tax cuts for families making over $250,000. >>> and the senate has approved a new u.s. commander for the war in afghanistan. he's marine corporal general joseph doneford and replaces general john al llen, nominatedo head forces in europe. allen's nomination on hold because of his involvement in the sex scandal that brought down former cia director david petraeus. >>> in foreign news, new intelligence reports, indicate syria's government may be preparing to use chemical and biological weapons against the rebels. in response though, the u.s. and its allies are considering military options. here's abc's martha raddatz. >> reporter: the latest intelligence is alarming. officials telling abc news the u.
over the fiscal cliff and start to solve some of these problems and we have an amendment put up because there's a very powerful force, all the service organizations and everything else, said don't do this. well, everybody in our country if we're to get out of the problem is going to have to pay a small sacrifice. this is not a large amount of money unless you're absolutely destitute in terms of the co-pays. so the president has recommended we do that, the committee recommended it, and we're reversing it and using a gimmick so there can't be a budget point of order on it. there will be a time in the not-too-distant future when the decisions to control our future will be out of our hand in terms of the economics, and the debt. delaying that now because we do not want to yield against the popular criticism will cause us to pay a further great price, and it also with a very -- the very people who are going to be asked to contribute as part of fixing our country are going to be paying a greater price. you know, i just got a book from our colleague, the senator from rhode island, sheldon whit
to shield 98% of families and 97% of small businesses from the income tax part of this so-called fiscal cliff. we passed the middle-class tax cuts act on july 25 of this year and we sent the measure to the house of representatives. did speaker boehner and the republicans in the house promptly pass this popular bill and send it to president obama for his signature? did they move to protect 98% of middle-class families from this tax hike in january? no. no. they decided to hold the middle-class tax cuts passed by the senate hostage in an attempt to push for tax cuts for the folks they care the most about, the top 2% of highest earning households. republicans fighting for millionaires and billionaires is not a new story. in 2001, president george w. bush decided to spend a large portion of the surpluses he inherited from president clinton to cut tax rates. many democrats opposed him then because the tax cuts were unfair, favoring the highest-income americans. to overcome that obstacle, the republicans resorted to a parliamentary technique, budget reconciliation, a maneuver that allowed for
be throwing gas on the fire. this is an emporer with no clothes. when we were pushed to fiscal cliff it was because john boehner promised something to the president and could not get members of his caucus do the right thing for the american people. >> i don't think we should be putting more gas on the karl what you're saying when your enemy is committing suicide, don't step in and interrupt? >> jennifer: break out the popcorn and sit back and watch the fight. a right on right fight. >> they're the ones who are responsible. don't blame us. >> what you risk about allowing them to fight with each other is going over the fiscal cliff and plunging us into another recession. when i say put gas on the fire, we cannot sit here and wait for them to self-destruct. it does not get the job done in washington. what gets the job in washington is standing up loud and proud and look at what they're doing to us. if we don't do that, we will squander another opportunity to show the american people that democrats are doing what is right for the working class in this country, and republicans are standin
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